SB2215 102ND GENERAL ASSEMBLY

LRB102 11540 RJF 16874 b

102ND GENERAL ASSEMBLY
State of Illinois
2021 and 2022
SB2215

Introduced 2/26/2021, by Sen. Jason Plummer

SYNOPSIS AS INTRODUCED:

5 ILCS 430/5-70 new

Amends the State Officials and Employees Ethics Act. Provides that no member of the General Assembly or immediate family member of the member shall, during that member's term of office, hold any ownership interest in any privately held cannabis enterprise or business, or any interest in a publicly traded cannabis company, other than a passive interest in such company. Provides that no employee of the General Assembly or of a member shall, during his or her employment, hold any ownership interest in any privately held cannabis enterprise or business, or any interest in a publicly traded cannabis company, other than a passive interest in such company. Provides that any member or immediate family member of the member holding an ownership interest in any cannabis enterprise or business as of the effective date of this amendatory Act shall divest himself or herself of that interest. Provides that any employee of the General Assembly or of a member holding an ownership interest in any cannabis enterprise or business as of the effective date of this amendatory Act shall divest himself or herself of that interest. Provides that no member or immediate family member of the member shall, during that member's term of office, receive any form of compensation for services rendered to or employment with any cannabis enterprise or business. Provides that no employee of the General Assembly or of a member shall, during his or her employment, receive any form of compensation for services rendered to or employment with any cannabis enterprise or business. Defines "immediate family member".

A BILL FOR

AN ACT concerning government.

Be it enacted by the People of the State of Illinois, represented in the General Assembly:

Section 5. The State Officials and Employees Ethics Act is amended by adding Section 5-70 as follows:

(5 ILCS 430/5-70 new)

Sec. 5-70. Prohibition on cannabis enterprise ownership.

(a) No member or immediate family member of the member shall, during that member's term of office, hold any ownership interest in any privately held cannabis enterprise or business, or any interest in a publicly traded cannabis company, other than a passive interest in such company. No employee of the General Assembly or of a member shall, during his or her employment, hold any ownership interest in any privately held cannabis enterprise or business, or any interest in a publicly traded cannabis company, other than a passive interest in such company.

(b) Any member or immediate family member of the member holding an ownership interest as prohibited under subsection (a) as of the effective date of this amendatory Act of the 102nd General Assembly shall divest himself or herself of that interest within 30 days after the effective date of this amendatory Act of the 102nd General Assembly. Any employee of the General Assembly or of a member holding an ownership interest as prohibited under subsection (a) as of the effective date of this amendatory Act of the 102nd General Assembly shall divest himself or herself of that interest within 30 days after the effective date of this amendatory Act of the 102nd General Assembly.

(c) No member or immediate family member of the member shall, during that member's term of office, receive any form of compensation for services rendered to or employment with any cannabis enterprise or business. No employee of the General Assembly or of a member shall, during his or her employment, receive any form of compensation for services rendered to or employment with any cannabis enterprise or business.

(d) For the purposes of this Section only, "immediate family member" means anyone living with a member, or a spouse, child, sibling, or parent of a member, regardless of whether that person lives with the member.